Tech Mahindra raises Rs.600 crore to fund Satyam acquisitionApril 18th, 2009 IT major Tech Mahindra, which needs to pay Rs.1,756 crore for acquiring 31 percent stake in the troubled IT firm Satyam Computer Services, Saturday said it has raised Rs.600 crore through debt instrument.The government-appointed board of Satyam Monday named Venturbay - a subsidiary of Tech Mahindra - as the winner of the auction to sell a majority stake in the fraud-hit IT giant.Under the share subscription agreement signed by the winning bidder and the board, Tech Mahindra will have to deposit the bid amount in an escrow account by April 21. Tech Mahindra will also make an open offer for another 20 percent stake in Satyam at Rs.58 per share for controlling stake (51 percent).
Tech Mahindra to announce 20 percent open offer for Satyam TuesdayApril 20th, 2009 HYDERABAD - Tech Mahindra, the new owner of scam-hit Satyam Computer Services, will announce an 'open offer' Tuesday to obtain an additional 20 percent stake in the software major, Satyam chairman Kiran Karnik said here Monday. Tech Mahindra, which deposited Rs.2,910 crore (Rs.29.1 billion) in an escrow account Monday for a 31 percent stake in Satyam, will see its total holding increase to 51 percent after the open offer.
Tech Mahindra to run Satyam as standalone unitApril 21st, 2009 Tech Mahindra Limited, which is taking over Satyamomputer Services Limited in a deal worth about 580 million dollars, has said that it would run the fraud-hit outsourcing firm as a standalone unit. Tech Mahindra said its immediate priority was to retain and win back lost clients of Satyam and the company intended to meet key customers across the world.
Tech Mahindra Wins Bid for Satyam ComputerApril 13th, 2009 MUMBAI - Tech Mahindra, the IT arm of auto major Mahindra and Mahindra, Monday won the bid for India's fourth largest software exporter Satyam Computer. Satyam's new board of directors, which met here to select the highest bidder, chose Tech Mahindra following its bid of Rs.1,757 crore ($351.4 million) for 31 percent stake in the scam-tainted IT giant.
Tech Mahindra to provide IT solutions to Etisalat DBSeptember 7th, 2009 MUMBAI - Software outsourcer Tech Mahindra will provide telecom operator Etisalat DB with IT solutions and infrastructure requirements for its proposed services rollout in 15 telecom circles, it was announced here Monday. The contract, valued at Rs.2,000 crore or $400 million, is valid for 10 years, Etisalat DB, earlier known as Swan Telecom, said in a statement.
Tech Mahindra registers interest in Satyam bidding processMarch 12th, 2009 MUMBAI - IT services major Tech Mahindra has registered its interest in bidding for 51 percent stake in scam-hit Satyam Computers, it was announced Thursday. 'In line with the process set out by the board of Satyam Computer Services, Tech Mahindra, on March 12, 2009, registered its interest in participating in the bidding process.
Alaska Gov. Palin promises "less politically correct" tweets once out of officeJuly 17th, 2009 Palin promises to keep on tweetingANCHORAGE, Alaska — Alaska Gov. Sarah Palin plans to stay in touch using Twitter even after leaving office on July 26.
Top 10 Ways to Make Money from TwitterFebruary 19th, 2009 Most of the Twitter addicts know its spinning money now. It's high time for you regular Twitterers to get into serious business while spending time on social networking. The most feasible way to make money from twitter would be to get used to its tools.
Middle age chatters driving Twitter's trendApril 13th, 2009 LONDON - Twitter is not longer the domain of younger generation, for a majority of people who use the chatting site are over 35, according to a new survey. The research conducted by web monitoring company comScore showed that those aged 45 to 54 are 36 per cent more likely than average to visit the site.
C.P. Gurnani appointed chief executive of Indian outsourcer Mahindra SatyamJune 23rd, 2009 Indian outsourcer Mahindra Satyam gets new CEOMUMBAI, India — Mahindra Satyam, a rebranded Indian outsourcing company nearly brought down in a $1 billion fraud, said Tuesday that C.P. Gurnani, an executive from its new controlling shareholder, has been appointed chief executive.
Coming soon, prayers through Tweets!April 28th, 2009 LONDON - The leader of four million Roman Catholics in Ireland has encouraged social network members to text, Twitter or e-mail daily prayers to their family and friends. Cardinal Sean Brady made the appeal as he unveiled a statue of Father Patrick Peyton, known as the Rosary Priest.
Tech Mahindra to complete Satyam's 75-mn dollars Australian projectJuly 1st, 2009 MELBOURNE - Tech Mahindra, the new owner of troubled Indian IT services firm Satyam, has for the first time confirmed its continued commitment to a 75 million dollars software development project in Geelong, Australia. There were grave concerns that the project would be axed after Satyam Computer Services founder and chairman, B.
Chandigarh region's software exports grow 31 percentJune 11th, 2009 CHANDIGARH - Software exports from Chandigarh and its adjoining towns of Panchkula and Mohali grew 31 percent to cross Rs.1,050 crore in 2008-09, compared to Rs.800 crore the year before. Growth results released by officials here said that software exports in the union territory, particularly from the Rajiv Gandhi Chandigarh Technology Park here, rose from Rs.504 crore in 2007-08 to Rs.750 crore last year.
Mobile phones to notify namaz timings through imageApril 6th, 2009 WASHINGTON - A new software application meant for mobile phones can alert Muslim users to namaz timings through an image combined with audible alerts. The screen of the mobile phone shows an image of the sun lining up with a green circle when it is time to pray.
Technopark partners with Chinese industrial zoneSeptember 24th, 2009 THIRUVANANTHAPURAM - City-based information technology park Technopark has signed a cooperation agreement with China's Dalian Hi-tech Zone, it was announced here Thursday. Dalian Hi-tech is a mixed industry zone in China's Dalian city, where pharmaceutical and IT services majors have units.